The jackpot for the Powerball draw on Wed Jan 29, 2025, is projected to be $69 Million, with an option for a cash payout of $30.7 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Arkansas residents, the state will deduct 4.9% from your lottery earnings.
| Arkansas Powerball Jackpot/Cash Option for Wed Jan 29, 2025 |
|---|
| Draw Date | Wed Jan 29, 2025 | | Projected Jackpot | $69,000,000 | | Cash Value | $30,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $30,700,000 | | Federal Tax(24%) | $7,368,000 | | Additional Federal Tax | $3,951,330 | | State Tax(4.9%) | $1,504,300 | | Net Lumpsum Payment | $17,876,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,038,519 |
$344,582
$50,887 |
$643,050 |
| 2 |
$1,090,476 |
$363,807
$53,433 |
$673,236 |
| 3 |
$1,144,986 |
$383,975
$56,104 |
$704,907 |
| 4 |
$1,202,256 |
$405,165
$58,911 |
$738,180 |
| 5 |
$1,262,355 |
$427,402
$61,855 |
$773,098 |
| 6 |
$1,325,490 |
$450,762
$64,949 |
$809,779 |
| 7 |
$1,391,730 |
$475,270
$68,195 |
$848,265 |
| 8 |
$1,461,351 |
$501,030
$71,606 |
$888,715 |
| 9 |
$1,534,422 |
$528,067
$75,187 |
$931,168 |
| 10 |
$1,611,150 |
$556,456
$78,946 |
$975,748 |
| 11 |
$1,691,673 |
$586,249
$82,892 |
$1,022,532 |
| 12 |
$1,776,267 |
$617,549
$87,037 |
$1,071,681 |
| 13 |
$1,865,070 |
$650,406
$91,388 |
$1,123,276 |
| 14 |
$1,958,358 |
$684,923
$95,960 |
$1,177,475 |
| 15 |
$2,056,269 |
$721,150
$100,757 |
$1,234,362 |
| 16 |
$2,159,079 |
$759,190
$105,795 |
$1,294,094 |
| 17 |
$2,266,995 |
$799,119
$111,083 |
$1,356,793 |
| 18 |
$2,380,362 |
$841,064
$116,638 |
$1,422,660 |
| 19 |
$2,499,387 |
$885,104
$122,470 |
$1,491,813 |
| 20 |
$2,624,346 |
$931,338
$128,593 |
$1,564,415 |
| 21 |
$2,755,584 |
$979,896
$135,024 |
$1,640,664 |
| 22 |
$2,893,377 |
$1,030,880
$141,775 |
$1,720,722 |
| 23 |
$3,038,001 |
$1,084,391
$148,862 |
$1,804,748 |
| 24 |
$3,189,939 |
$1,140,608
$156,307 |
$1,893,024 |
| 25 |
$3,349,398 |
$1,199,608
$164,121 |
$1,985,669 |
| 26 |
$3,516,930 |
$1,261,594
$172,330 |
$2,083,006 |
| 27 |
$3,692,742 |
$1,326,645
$180,944 |
$2,185,153 |
| 28 |
$3,877,386 |
$1,394,963
$189,992 |
$2,292,431 |
| 29 |
$4,071,276 |
$1,466,703
$199,493 |
$2,405,080 |
| 30 |
$4,274,826 |
$1,542,016
$209,466 |
$2,523,344 |
|
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